Zerodha₹20 per order on options · delivery ₹0
- Options brokerage
- ₹20 per order
- Account opening
- ₹0
- Demat AMC
- Free in year 1; then ₹0–₹300 + GST a year depending on holdings (BSDA)
Broker comparison
Zerodha vs.
SBI Securities
Which broker fits your needs?
Platforms, products and fees side by side.
Checked on Thu, 5 Nov, 2026
See comparisonZerodha
SBI SecuritiesVS
Summary
Your goal decides
With one lot per order, Zerodha charges less options brokerage (₹20 per order). Zerodha: The discount broker most active traders started with; Kite platform and free Varsity lessons. SBI Securities: Bank-backed broker of the SBI group; on its free-opening Suvidha plan, options are charged per lot. Statutory charges such as STT are the same at both.
ZerodhaThe discount broker most active traders started with; Kite platform and free Varsity lessons.
SBI SecuritiesBank-backed broker of the SBI group; on its free-opening Suvidha plan, options are charged per lot.
At a glance
The key differences
| Criterion | Zerodha | SBI Securities |
|---|---|---|
| Platforms | Kite Web, Kite App, Console | SBI Securities app and web, TradingView charts, Options Arena |
| Product types | Indian Stocks, F&O, Commodities, Currency, Mutual Funds, Bonds | Indian Stocks, F&O, Commodities |
| Options trading | Yes: NSE and BSE index and stock options | Yes: NSE and BSE index and stock options |
| Fee model | ₹20 per order on options · delivery ₹0 | ₹50 per lot (Suvidha plan) on options · delivery 0.50% (Suvidha plan) |
| Account opening | ₹0 | ₹0 (Suvidha plan) |
| Demat AMC | Free in year 1; then ₹0–₹300 + GST a year depending on holdings (BSDA) | Free in year 1; then the standard DP AMC (amount not stated on the plan page) |
| Regulation | SEBI INZ000031633 | SEBI INZ000200032 |
| More information | Details | Details |
Platforms
Zerodha
Kite Web, Kite App, Console
SBI Securities
SBI Securities app and web, TradingView charts, Options Arena
Product types
Zerodha
Indian Stocks, F&O, Commodities, Currency, Mutual Funds, Bonds
SBI Securities
Indian Stocks, F&O, Commodities
Options trading
Zerodha
Yes: NSE and BSE index and stock options
SBI Securities
Yes: NSE and BSE index and stock options
Fee model
Zerodha
₹20 per order on options · delivery ₹0
SBI Securities
₹50 per lot (Suvidha plan) on options · delivery 0.50% (Suvidha plan)
Account opening
Zerodha
₹0
SBI Securities
₹0 (Suvidha plan)
Demat AMC
Zerodha
Free in year 1; then ₹0–₹300 + GST a year depending on holdings (BSDA)
SBI Securities
Free in year 1; then the standard DP AMC (amount not stated on the plan page)
Regulation
Zerodha
SEBI INZ000031633
SBI Securities
SEBI INZ000200032
Product access and costs depend on market, account and permissions.
Detailed comparison
Comparing fees
Compare total costs, not just the order fee.
ZerodhaSBI Securities₹50 per lot (Suvidha plan) on options · delivery 0.50% (Suvidha plan)
- Options brokerage
- ₹50 per lot (Suvidha plan)
- Account opening
- ₹0 (Suvidha plan)
- Demat AMC
- Free in year 1; then the standard DP AMC (amount not stated on the plan page)
The relevant costs depend on market, currency, order size and trading style.
Real costs
What 20 options trades a month cost
Zerodha
- Brokerage per order
- ₹20
- All charges, 20 round trips
- ₹1,252
- Per year
- ₹15,027
SBI Securities
- Brokerage per lot
- ₹50
- All charges, 20 round trips
- ₹2,668
- Per year
- ₹32,019
Illustrative: one Nifty lot (65) bought and sold at ₹100, 20 times a month, including STT, exchange charges, SEBI fee, stamp duty and GST. Use your own numbers.
Execution quality
Order type, venue and liquidity affect execution.
ZerodhaCheck the provider’s execution policy and available order types for your account.
Provider informationSBI SecuritiesCheck the provider’s execution policy and available order types for your account.
Provider informationProduct range
ZerodhaIndian StocksF&OCommoditiesCurrencyMutual FundsBonds
SBI SecuritiesIndian StocksF&OCommodities
Categories come from broker profiles. Check specific markets and permissions before deciding.
Trading platforms
ZerodhaKite Web · Kite App · Console
Option chain on Kite, opened from an instrument, a contract search or the charts section. Basket orders, including a basket mode on the option chain that adds several strikes to one basket for spreads and straddles. GTT (Good Till Triggered) orders are available for F&O contracts and stay active for up to a year. Margin calculator under Zerodha's utilities, and Sensibull integration for strategy building and position analysis. Kite Connect API: a free Personal tier for orders, GTT and portfolio, and a Connect tier at ₹500 a month that adds live WebSocket data and historical candles.
Explore platformSBI SecuritiesSBI Securities app and web, TradingView charts, Options Arena
Bank-backed broker of the SBI group; on its free-opening Suvidha plan, options are charged per lot.
Explore platformRegulation does not prevent market losses. The relevant authority depends on the contracting entity.
Your investor profile
Who might it suit?
ZerodhaThe discount broker most active traders started with; Kite platform and free Varsity lessons.
- Fast, stable Kite platform
- Free delivery trades
- Large free learning library (Varsity)
- Some analytics tools are third-party add-ons
- AMC after the first year for larger holdings
SBI SecuritiesBank-backed broker of the SBI group; on its free-opening Suvidha plan, options are charged per lot.
- No account opening charge on the Suvidha plan
- Options Arena for options trading
- Per-lot options brokerage on the Suvidha plan
- Other plans have different rates: read the plan table
Your questions
Frequently asked questions
Is Zerodha or SBI Securities cheaper for options trading?
With one lot per order, Zerodha charges less options brokerage (₹20 per order). Orders of several lots change the comparison, because per-lot brokerage grows with the number of lots. STT, exchange charges, the SEBI fee and stamp duty are the same at both.
Are Zerodha and SBI Securities regulated?
Both are SEBI-registered stock brokers and members of NSE and BSE.
Can I have accounts with both Zerodha and SBI Securities?
Yes. You can hold demat and trading accounts with more than one broker; each charges its own AMC.
Does the broker change STT or exchange charges?
No. STT (0.15% of premium on the sell side), exchange charges, the SEBI fee and stamp duty are the same at every broker. Only brokerage and account charges differ.
Your next step
Your next step
ZerodhaThe discount broker most active traders started with; Kite platform and free Varsity lessons.
Open accountRead reviewSBI SecuritiesBank-backed broker of the SBI group; on its free-opening Suvidha plan, options are charged per lot.
Open account